Another of Japan's large funds out with strategy report 20 Oct
- no plans to buy bonds with neg yields
- reduced domestic bonds by JPY 40bln in 6 months to Sept
- plan to maintain holdings of domestic bonds, stocks in Oct-March
- will increase ccy-hedged foreign bond holding in Oct-March
- plans to allocate "tens of billions" JPY in investment trusts, mainly for bond investments in Oct-March
Less interest in JGBs. Mind you the BOJ are filling the gaps nicely.
